It’s been the stage for some of Australia’s most iconic racing moments, and now a new mini Melbourne suburb will be built at the home of the Cox Plate.
A mini Melbourne suburb will be built near the home of the Cox Plate after a builder and bank backing was secured for residential redevelopment of The Valley. Melbourne developer Hamton Property Group will on Saturday announce the start of construction on Feehan Row, the first stage of homes and terraces in Moonee Valley Park.
Camillo Builders will construct the first phase of the $2 billion redevelopment of the famous racecourse site in one of Victoria’s largest urban regeneration projects.
Developers have secured a $73 million deal with a major bank for the revamp that will see two, three and four bedroom homes and terraces built in the shadows of the racecourse. Moonee Valley Park will eventually boast about 2,000 dwellings and be home to an estimated 4,000 new residents in the next 15 years.
Moonee Valley Racing club chief executive Michael Browell said construction of the 67 homes in the first stage of residential release had been years in the making.
“We’ve invested over 10 years in planning this incredible transformation of our historic racecourse site,’’ he said.
“And to see the activity now under way on the construction of the first release of Feehan Row is extremely gratifying.’’
Hamton managing director Matt Malseed said Moonee Valley Park was “one of the most significant urban development projects in Victoria’s history”.
“The project partners are thrilled to reach this point, moving from a vision to concept, into construction and establishing the foundations of a new neighbourhood,” he said.
Designs for the first stage of homes in a precinct billed as “a new premium neighbourhood’’ 6km from the CBD were inspired by existing Victorian terrace houses in Moonee Ponds and surrounding suburbs.
Camillo general manager Daniel Zammit said construction preparations were already underway, with completion due in March 2022. The Herald Sun recently revealed plans for a new half hectare public park, to be known as Tote Park, would be completed on The Valley site this year.
This year’s 100th Cox Plate will be run on October 24, the same day as the AFL Grand Final is played in Brisbane, with fans unlikely at The Valley due to coronavirus restrictions.
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